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Motorola sees losses, more job cuts - Broadcasting & Cable

Motorola sees losses, more job cuts

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Motorola reportedly predicted a fourth quarter loss and more layoffs by year's end on Wednesday.

Motorola expects to post a loss of 4 cents per share in the fourth quarter, according to press reports, with sales flat to 3 percent higher than they were in the third quarter. On Tuesday, the company reported a third quarter operating loss of $153 million excluding charges and $1.4 billion with them.

Company executives also upped the number of job cuts expected this year by 7,000, with 4,000 cuts coming from the sale of various businesses, and the remainder coming from "smaller reduction actions" and attrition. Adding in these cuts, Motorola will have eliminated 39,000 jobs by the end of the year.

Company executives revealed the numbers on call with analysts on Wednesday. Analysts had been looking for the company to post a profit of 1 cent per share, and expect sales to rise as much as 9 percent, according to First Call. Motorola didn't give an outlook for 2002.

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